News and views

Making (car) insurance history?

When the world goes driverless who will car insurers insure?

Crashes will be covered by manufacturer warranties.

The few of us left driving for ourselves will be served by a dwindling number of speicalist providers.

While this seems a near certainty the big question for the industry is whether or not home, product and other forms of insurance will switch to a warranty model? It could make much sense – for houses to be sold with warranties based on their condition at purchase for example. Such an approach would fit better with the internet age – insurance built-in rather than a side issue.

At this stage there remain many questions but it could be curtains for the insurance industry as we know it unless it thinks fast and re-invents itself.